Other Comprehensive Income

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Other Comprehensive Income

Other Comprehensive Income

(In Thousands)

Changes in the components of other comprehensive income, net of tax, were as follows for the periods presented:

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Three months ended June 30, 2020
Securities available for sale:
Unrealized holding gains on securities	$	3,496	$	893	$	2,603
Reclassification adjustment for gains realized in net income	(31)		(8)		(23)
Total securities available for sale	3,465		885		2,580
Derivative instruments:
Unrealized holding losses on derivative instruments	(1,064)		(271)		(793)
Total derivative instruments	(1,064)		(271)		(793)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	68		17		51
Total defined benefit pension and post-retirement benefit plans	68		17		51
Total other comprehensive income	$	2,469	$	631	$	1,838
Three months ended June 30, 2019
Securities available for sale:
Unrealized holding gains on securities	$	12,599	$	3,206	$	9,393
Reclassification adjustment for losses realized in net income	8		2		6
Total securities available for sale	12,607		3,208		9,399
Derivative instruments:
Unrealized holding losses on derivative instruments	(2,067)		(526)		(1,541)
Total derivative instruments	(2,067)		(526)		(1,541)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	137		35		102
Total defined benefit pension and post-retirement benefit plans	137		35		102
Total other comprehensive income	$	10,677	$	2,717	$	7,960

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Six months ended June 30, 2020
Securities available for sale:
Unrealized holding gains on securities	$	25,885	$	6,588	$	19,297
Reclassification adjustment for gains realized in net income	(31)		(8)		(23)
Total securities available for sale	25,854		6,580		19,274
Derivative instruments:
Unrealized holding losses on derivative instruments	(5,092)		(1,296)		(3,796)
Total derivative instruments	(5,092)		(1,296)		(3,796)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	130		33		97
Total defined benefit pension and post-retirement benefit plans	130		33		97
Total other comprehensive income	$	20,892	$	5,317	$	15,575
Six months ended June 30, 2019
Securities available for sale:
Unrealized holding losses on securities	$	27,780	$	7,070	$	20,710
Reclassification adjustment for gains realized in net income	(5)		(1)		(4)
Total securities available for sale	27,775		7,069		20,706
Derivative instruments:
Unrealized holding losses on derivative instruments	(3,294)		(838)		(2,456)
Total derivative instruments	(3,294)		(838)		(2,456)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	209		53		156
Total defined benefit pension and post-retirement benefit plans	209		53		156
Total other comprehensive income	$	24,690	$	6,284	$	18,406

The accumulated balances for each component of other comprehensive income, net of tax, were as follows as of the dates presented:

	June 30, 2020		December 31, 2019
Unrealized gains on securities	$	40,837	$	21,563
Non-credit related portion of previously recorded other-than-temporary impairment on securities	(11,319)		(11,319)
Unrealized losses on derivative instruments	(6,643)		(2,847)
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(6,536)		(6,633)
Total accumulated other comprehensive income	$	16,339	$	764